Program for first-time homebuyers draws interest

A spokesperson for the Iowa Finance Authority says a program designed to help people buy their first home hasn’t lost any steam during the summer. Monica Fisher says low interest rates continue to drive the “FirstHome” program. She says they month of July was a record-breaking month, as they had more loans reserved in that month than they’ve ever had in 25 years of the program. Fisher says they’re already ahead of last year’s pace that saw 19-hundred people get help to buy their first home. Fisher says FirstHome helps people obtain financing for their first home. She says there might be a misconception that it’s a low-income program, but she says it’s really a program to “incent” people to buy a home. Fisher says help with a loan isn’t the only thing the program provides. She says most first-time buyers in the program also qualify for a 15-hundred dollar grants to help them with their downpayment and closing costs. Fisher says participation in the program is based on income. She says the qualifying standard varies across the state, in Des Moines the income level is 65-thousand-300, and she says in the more rural counties the level is lower. For more information on the program, call:800-432-7230. Or you can surf to:www.ifahome.com.